Bitcoin news LIVE - Safemoon could overtake Dogecoin as cryptocurrency rockets but Bitcoin could fall 50% within days the-sun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from the-sun.com Daily Mail and Mail on Sunday newspapers.
Image source: Getty Images
Coinbase (NASDAQ:COIN) recently went public in a direct listing. And several top investors got very rich. The company’s stock closed at $328 on its first day of trading. Several top executives and insiders sold at prices higher than that, netting hundreds of millions of dollars in the process. In this article, I’ll look at who got rich in the Coinbase IPO and whether investors can learn anything from their success.
The who’s who of Coinbase
The people who got rich selling COIN shares after the listing were, predictably, a “who’s who” of company insiders that is, executives, board members, and venture capitalists who funded the company. Some high-profile names who cashed in on the listing include the following:
Cape Privacy Raises $20M in Series A Funding finsmes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finsmes.com Daily Mail and Mail on Sunday newspapers.
Coinbase’s Nasdaq debut powers retail crypto trading frenzy
On April 1, crypto exchange Coinbase announced that its Class A common stock would begin trading on Nasdaq Global Select Market under the ticker symbol “COIN” on April 14.
However, data from CryptoCompare suggests that the pre-listing rally in the crypto markets did not really start until one week before the listing date. On April 7, Bitcoin and Ether were trading as low as $55,467 and $1,931 respectively.
The rally that started on April 7 took Bitcoin to a new all-time high of $64,859 on April 14.
Another heavily-traded coin that managed to set a new all-time high on this day was XRP, which was helped by the Wanchain team announcing on April 12 that now “XRP token holders can put their XRP to work and engage with the world’s many DeFi applications”.
Coinbase : des débuts modestes dans la Silicon Valley à Wall Street cryptonews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cryptonews.com Daily Mail and Mail on Sunday newspapers.